EX-10.3
from SB-2/A
3 pages
Management Fee Suspension Agreement Wheras: A. Brooke Is the President of the Company; B. in Accordance With a Resolution Passed by the Directors of the Company, Since November 1, 2006 the Company Has Paid Brooke a Monthly Management Fee of $1,000 Payable on the First Day of Each Month (The “Fee”); C. Brooke Has Agreed to Permit the Company to Suspend Payment of the Fee Indefinitely, From and After the June 2007 Payment, Until Such Time as the Company Has Sufficient Cash to Meet All Its Other Budgeted Expenses for at Least as Six Month Period; D. the Parties Wish to Formalize This Agreement Between Them by Committing It to Writing Now Therefore in Consideration of the Premises and the Mutual Covenants and Agreements Between the Parties, the Parties Hereto Herby Agree as Follows: 1. in Order to Conserve the Company’s Working Capital Brooke Hereby Agrees to Permit the Company to Suspend Payment of the Fee, From and After June 2007, for an Indefinite Period
12/34/56
